Although most people understand that a Will provides your loved ones with instructions on what to do with your assets after you die, it may be surprising to learn that many people are unaware how important having a Will can be. A Will is the best way to be sure your family understand your wishes when you are no longer here and is the best way to be sure your assets are distributed in the way you choose.
“A last Will and Testament is a legal document that lets the testator, the person making the Will, decide what happens to their estate after they pass,” Adam Crouse of Aleman & Associates said. “When you die without a Will, important decisions are left up to state law and possibly the courts. The distribution can get complicated depending on the persons family situation and the size of their Estate.”
When a person dies without a valid Will, they are said to have died “intestate.” In such cases, Delaware state law determines who inherits your property according to a fixed formula, rather than according to your personal wishes.
If the deceased was married, the surviving spouse’s share depends on whether there are children or living parents. When there are no surviving children or parents, the spouse inherits the entire estate. If there are surviving children who are all children of that same spouse, the spouse receives a specific dollar amount, plus half of the remaining estate, while the children share the other half. However, if there are children from another relationship, the spouse inherits half of the estate, and the children share the remaining half. In cases where the deceased leaves behind a spouse and parents but no children, the estate is divided between them in portions defined by law.
For individuals who were not married at the time of death, the estate passes to their living descendants. If there are no surviving children, the deceased’s parents inherit the estate. When the parents are no longer living, the inheritance passes to the deceased’s siblings. If no immediate family members survive, Delaware law provides a detailed order of succession that allows more distant relatives to inherit according to a specific priority system.
“Because inheritance laws can be complicated, even if you think your estate is small, it is important have a well written estate plan,” Crouse said. “Of course you can write a Will yourself, but there are several key requirements that need to be included, or your Will may not be accepted. A Will in Delaware must be signed by the testator and witnessed by two qualified witnesses. Another important feature you can include with your Will is something called a ‘self-proving affidavit’. Under Delaware law, this document accompanies a Will and verifies the signatures of testator and the witnesses. A self-proving affidavit can make things much easier for loved ones later on as it eliminates the need for witnesses to personally appear before the Register of Wills to prove the Will’s validity during the probate process, saving time and reducing potential complications.” After the testator dies the Will can be filed in the county where testator resided at the time of their death, regardless of whether they died outside of that County.
To learn more about estate laws and begin the process of creating your Will, contact Aleman and Associates by calling 302-990-8801 or find them online.
